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How FICA Tax Works: Social Security and Medicare Explained (2025–2026)
Income Tax
Ritu Sharma
Jun 02, 2026 Ritu Sharma
Verified Expert

How FICA Tax Works: Social Security and Medicare Explained (2025–2026)

FICA funds Social Security and Medicare — and it comes out of every paycheck before you even see it. The rate is 6.2% for Social Security plus 1.45% for Medicare, totaling 7.65% on your side. Your employer matches every dollar. In 2026, the Social Security wage base rises to $184,500 — meaning high earners pay $521 more than in 2025. Self-employed workers pay the full 15.3%. This guide explains every rate, cap, calculation, and planning move for both employees and freelancers.

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2026 Federal Tax Brackets Explained: Rates, Thresholds & How They Work
Income Tax
Ritu Sharma
May 31, 2026 Ritu Sharma
Verified Expert

2026 Federal Tax Brackets Explained: Rates, Thresholds & How They Work

The 2026 federal income tax system has seven rates — 10% through 37% — now permanent under the One Big Beautiful Bill Act. But most taxpayers misunderstand how they work. A single filer earning $80,000 has a 22% marginal rate but pays only about 11.9% effective rate. This guide explains every 2026 bracket threshold for single and married filers, how progressive taxation actually works, and walks through the math on a full worked example so you never mistake your marginal rate for your actual tax rate again.

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Lottery and Gambling Tax Guide: How Winnings Are Taxed in 2026
Income Tax
Ritu Sharma
May 24, 2026 Ritu Sharma
Verified Expert

Lottery and Gambling Tax Guide: How Winnings Are Taxed in 2026

The IRS treats every gambling win — casino, lottery, sports bet, poker tournament — as ordinary income taxed at your marginal rate, up to 37% in 2026. The 24% withheld at payout is a down payment, not your final bill. Two major changes hit in 2026: the W-2G reporting threshold for slots and bingo rises to $2,000, and gambling loss deductions are now capped at 90% of winnings (down from 100%). This guide covers every withholding rule, the lump sum vs annuity tradeoff, state taxes, and exactly how losses work under the new cap.

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Earned Income Tax Credit (EITC): Who Qualifies and How Much You Can Get
Income Tax
Ritu Sharma
May 23, 2026 Ritu Sharma
Verified Expert

Earned Income Tax Credit (EITC): Who Qualifies and How Much You Can Get

The Earned Income Tax Credit is worth up to $8,046 in 2025 for families with three or more qualifying children — and 1 in 5 eligible taxpayers never claim it. It is fully refundable, meaning you receive it as a real refund even if you owe zero in federal income tax. This guide covers every income limit, every qualifying rule, and worked examples at multiple income levels so you can determine in five minutes whether you are leaving money on the table.

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Child Tax Credit 2025 & 2026: $2,200 Per Child After OBBBA
Income Tax
Ritu Sharma
May 22, 2026 Ritu Sharma
Verified Expert

Child Tax Credit 2025 & 2026: $2,200 Per Child After OBBBA

The One Big Beautiful Bill Act raised the Child Tax Credit from $2,000 to $2,200 per qualifying child starting in 2025 — and made it permanent. The refundable Additional Child Tax Credit is $1,700 per child in 2025 and rises to $1,800 in 2026. Phase-out starts at $200,000 (single) and $400,000 (MFJ). This guide explains every rule, every threshold, and the exact dollar math for families at every income level.

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Understanding FICA: Social Security and Medicare Taxes (2025–2026)
Income Tax
Ritu Sharma
May 21, 2026 Ritu Sharma
Verified Expert

Understanding FICA: Social Security and Medicare Taxes (2025–2026)

Every paycheck shows two deductions most employees barely notice: Social Security at 6.2% and Medicare at 1.45%. Together they make up FICA — 7.65% of every dollar you earn, matched dollar for dollar by your employer at a cost you never see. The 2025 Social Security wage base is $176,100. For 2026 it jumps to $184,500. This guide explains every component — rates, caps, surtaxes, and self-employed rules — with full dollar examples at every income level.

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How Federal Tax Brackets Work: Marginal vs Effective Rate Explained (2025)
Income Tax
Ritu Sharma
May 19, 2026 Ritu Sharma
Verified Expert

How Federal Tax Brackets Work: Marginal vs Effective Rate Explained (2025)

The US federal income tax system is progressive — you do not pay your top rate on all income. A single filer earning $85,000 in 2025 has a 22% marginal rate but pays only an 11.9% effective rate. This guide explains exactly how brackets work, why a raise can never reduce your take-home pay, and walks through the math step by step so you never misread your tax bracket again.

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2026 Federal Tax Bracket Changes: Every Rate and Threshold Updated
Income Tax
Ritu Sharma
May 17, 2026 Ritu Sharma
Verified Expert

2026 Federal Tax Bracket Changes: Every Rate and Threshold Updated

The IRS adjusted all seven federal income tax brackets for 2026 by approximately 2.7% under Rev. Proc. 2025-32. The rates stay the same — 10% through 37% — but every income threshold shifted upward. A single filer at $100,000 saves roughly $385 versus 2025 with no change in income. Here is every bracket for single filers, married filing jointly, and head of household — side by side with 2025, with real dollar savings examples.

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FEIE 2026 & 2025: $132,900 / $130k Foreign Earned Income Exclusion for Expats
Income Tax
Ritu Sharma
May 16, 2026 Ritu Sharma
Verified Expert

FEIE 2026 & 2025: $132,900 / $130k Foreign Earned Income Exclusion for Expats

The 2026 Foreign Earned Income Exclusion is $132,900 per qualifying person — up from $130,000 in 2025. A single expat earning under $149,000 abroad in 2026 can combine the FEIE with the $16,100 standard deduction to owe zero US federal income tax. But the exclusion is not automatic — you must file Form 2555, pass either the Physical Presence or Bona Fide Residence Test, and continue filing US returns every year. Here is exactly how it works.

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